Banana flour is a powder made from green bananas. It has been used as a substitute for wheat flour and forms a staple of consumers in Jamaica and Africa. The flour contains resistant starch, a vital component which aids in the digestion of components and facilitate the growth of bacteria in the gut. The global banana flour market report by Market Research Future (MRFR) contains imperative insights which outlines future growth opportunities for the period between 2020 and 2027 (forecast period).
How big is Banana flour market?
Banana Flour Market Size is anticipated to reach USD 865.5 Million by 2027, registering a CAGR of 4.4% during 2020-2027
Market Outlook:
The global banana flour market size can balloon over the forecast period owing to the consumption of foods derived from naturally grown fruits. The high content levels of resistant starch and its benefits to combat celiac disease and keep cardiac problems at bay. Large number of obesity levels and patients diagnosed with skin and cardiac disorders form the major consumer demographic for the market.
The need for a healthy alternative to wheat flour in bakery items is likely to be a growth driver of the market. Awareness of magnesium and potassium levels within green bananas has led to its extended application and approval of its use by regulatory agencies. Use of bananas as functional ingredients and the impact of new production techniques for creating unique value proposition and appeal among customers can widen the prospects of the market.
Segmentation:
MRFR has segmented the global banana flour market by source, packaging type, and distribution channel.
Based on source, the banana flour market can be segmented into organic and conventional. The conventional segment accounted for a large market share; however the organic segment can capture a large share of the market in the coming years due to consumer preference for natural ingredients and strict policies regarding conventional ingredients.
Based on packaging type, the global banana flour market comprises boxes, pouches, and others.
Based on distribution channel, the banana flour market relies on two channels, namely store-based and non-store-based. The store-based segment is further divided into convenience stores, supermarkets and hypermarkets, and others. Among them, the store-based channel can generate significant revenue due to the trust in brick-and-mortar stores as well as its well-defined distribution network. However, the non-store-based channel is reputed to be more reliable and generate maximum output for the market due to investments in streamlining the supply processes and ensuring last-mile delivery.
Competitive Landscape:
M-Pak, Pereg Gourmet Spices, Natural Evolution, Kanegrade Ltd, WILD Flavors and Specialty Ingredients, Diana Group, International Agriculture Group, Ceres Organics, Paradise Fruits Solutions GmbH Co.KG, and Stawi Foods and Fruits Limited are major companies profiled by MRFR in the market report.
Regional Analysis:
North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW) are the four major regions considered for the analysis of the global banana flour market.
The APAC region is expected to register a significant CAGR during the forecast period owing to the rising wave of health-consciousness among consumers. Furthermore, the inclination towards plant-based foods and the surge in vegan customers can widen the scope of the market. High consumption of banana-based products and demand for gluten-free foods can drive the banana flour market growth. Australia and India are two countries which can contribute the maximum from the region. Launch of novel foods can induce the global market demand for banana flour.
Industry News:
Gabanna, a Dutch company, has been using green bananas grown in Uganda to be used as a base for its product offerings in the foods beverages sector. The company is planning to launch a line of pastas which can cook nearly instantly and in new flavors for appealing to changing customer tastes.
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